UltraShort Industrials ProShares (SIJ) 10/29/09 PriceWatch Alert Up To 28.44% Return
Posted: Thursday, October 29, 2009 8:47 AM EDT
By: Market Intelligence Center Staff
UltraShort Industrials ProShares (PCX: SIJ) closed yesterday at $30.03. So far SIJ has hit a 52-week low of $25.50 and 52-week high of $173.50. SIJ has been showing support around 27.94 and resistance in the 31.12 range. Technical indicators are Bullish. SIJ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '09 28 covered call (SIJ LP) for a net debit in the $26.93 area. That is also the break even stock price for this trade. This covered call has a 51 day duration, provides 10.32% downside protection and a 3.97% assigned return rate for a 28.44% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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